Everton FC: Shareholders asked to support return of AGMs

EVERTON shareholders have been asked to support a requisition to force the Blues board to permanently reinstate AGMs.

EVERTON shareholders have been asked to support a requisition to force the Blues board to permanently reinstate AGMs.

Letters were sent out to Blues shareholders this morning, with a full text for an EGM Petition published on http://www.efcsa.org.

Shareholders are asked to respond by December 10.

The traditional AGM ceased in 2008 when a change in the Companies Act removed a legal requirement for the Blues board to hold an AGM.

Since 2009 the Everton FC Shareholders Association has privately petitioned chairman Bill Kenwright and chief executive Robert Elstone to restore the annual meetings, but the Blues have made it clear there is no appetite for a reintroduction of the often feisty affairs.

In a covering letter, the association’s honorary secretary James Asquith wrote: “It is with deep regret that we believe the only course of action now open to us is to seek qualified approval and support for the enclosed Requisition that seeks to force the board, through the will of the membership, to call an Extraordinary General Meeting.

“We truly believe that this is very important to the future of the club. We are only asking for the board of our club to answer simple questions on the financial performance of the company and to permanently reinstate the AGM.

“We all know that our football club faces great, and growing, challenges in the modern game. How we face those challenges together – fans, shareholders and directors – is of concern and interest to us all. We believe that your opinions should be heard by the board, and we believe that Annual General Meetings are the proper and appropriate forum to voice them.”

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